Commercial real estate finance company TPG RE Finance Trust, Inc. announced that the Company priced TRTX 2019-FL3, a $1.23 billion managed Commercial Real Estate Collateralized Loan Obligation (“CRE CLO”).
The Company placed $1.04 billion of investment grade bonds with institutional investors, providing TRTX with matched-term financing on a non-mark-to-market and non-recourse basis.
TRTX 2019-FL3 includes a two-year reinvestment period, an advance rate of 84.5%, and a weighted average interest rate at issuance of LIBOR plus 1.44%, before transaction costs.
The transaction is expected to close on October 25, 2019 and is subject to customary closing conditions.
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